Welcome to North Miami Newest Workforce Development! The Coral Rock Development Group is planning a 138-unit workforce and affordable housing development complex in North Miami according to The Real Deal. North Miami can see a new workforce development and affordable housing under Coral Rock’s plan. A news release from the developer confirms that the 10-story Kayla at Library Place will be constructed on the city-owned site of the Greater North Miami Chamber of Commerce at 13100 West Dixie Highway. The developer has a 70-year lease on the 1-acre parcel. The Chamber will move to a larger building at Kayla. It currently occupies a 1,200-square-foot space. The workforce housing apartments will be for individuals earning 100 percent of the area median income, while the affordable housing apartments will be available to people earning up to 60 percent of the area median income. The release says that the apartments will be between 660 and 930 square feet in size. Miami-Dade County’s AMI is $68,300.
Construction is expected to begin in the second quarter of 2023, with completion targeted for the end of 2024, according to a Coral Rock spokesperson. Coral Gables-based developer Coral Rock finished Pura Vida Hialeah, a mixed-use development with 260 apartments and over 50,000 square feet of commercial space, this year. Michael Wohl, Stephen Blumenthal, David Brown, and Victor Brown are the company’s founders. The South Florida firm’s latest venture is aimed at alleviating the region’s apartment affordability crisis. While the unprecedented rent growth of the previous two years has slowed, the region is still ahead of the country in rent increases.